British industrial production

Sterling Exhibited a Heavy Tone

March 12, 2013

Sterling sank to a low of $1.4832, its weakest dollar level in about 2-1/2 years.  The trigger for today’s decline was the announced 1.2% plunge of British industrial production in January that erased December’s 1.1% advance and left production in November-January 0.9% below the August-October level.  Production in January was 2.9% weaker than a year […] More

Focus on Bank of England and ECB

February 7, 2013

The dollar is narrowly mixed with gains of 0.4% against the kiwi, 0.2% versus the euro and yen, and 0.1% against the Australian dollar but declines of 0.3% versus the Swiss franc and sterling and 0.1% relative to the loonie.  The yuan is steady. After Wednesday’s 3.8% leap, the Nikkei settled back 0.9%.  Elsewhere in […] More

Unsettling European News Ahead of North American Labor Statistics

December 7, 2012

Monthly jobs data will be released in the United States and Canada at 13:30 GMT. German industrial production sank 2.6% in October, five times greater than expected, after a 1.3% drop in September.  The Bundesbank warned of possible negative German growth both this quarter and the first quarter of 2013, and revised projected full-2013 GDP […] More

Judgement Day in America

November 6, 2012

Today’s U.S. presidential election outcome is generally considered too close to call.  Representing world opinion, the Economist and Financial Times endorsed Obama despite reservations about his first term. In a surprise to many analysts, the Reserve Bank of Australia declined to cut the 3.25% Official Cash Rate further.  The Aussie dollar has climbed 0.7% against […] More

Currency Markets Quiet

August 7, 2012

The dollar has edged down 0.1% against the loonie, euro, Swissie, Aussie dollar and yuan.  The greenback is unchanged against the kiwi, 0.3% lower versus sterling and 0.1% firmer relative to the yen. Share prices rose 1.1% in India and 0.9% in Japan overnight.  Smaller equity gains were posted of 0.6% in New Zealand, 0.4% […] More

Some Hope Returns to the Market

July 10, 2012

News that the Eurogroup of Ezone officials announced plans for faster loans to Spanish banks pushed 10-year Spanish sovereign debt yields back to 6.90% from 7.07%.  China’s trade surplus surpassed expectations in June.  At $31.7 billion, such was easily the largest surplus of 1H12.  There was a $68.8 billion surplus in the second quarter after […] More

A Nondescriptive June Tuesday

June 12, 2012

The dollar is unchanged against the euro and Swiss franc, up 0.1% versus the yen, and off 0.3% relative to the loonie and sterling and by 0.1% versus the yuan.  Bigger drops of 0.8% and 0.5% have occurred against the New Zealand and Australian dollars. After Monday’s sizable drop in U.S. share prices, equities fell […] More

Spotlight on ECB

July 7, 2011

Markets are largely marking time ahead of the ECB and Bank of England rate decisions.  The euro fell following Moody’s downgrade of Portuguese debt to junk status but is unchanged against the dollar overnight.  The U.S. currency has risen 0.3% against the Swiss franc and 0.1% relative to the yen and sterling.  The greenback is […] More

Fearful Markets

May 12, 2011

Commodities and stocks have been hammered.  The dollar and yen are stronger.  Investors fear a commodity market squeeze from higher margin requirements.  Another worry is that European leaders may not agree to a larger aid package for Greece.  Weak overnight data are meanwhile weighing on economic growth prospects.  Then there is the fast-approaching end of […] More

Weaker Yen and Dollar

April 6, 2011

The dollar climbed above JPY 85.0 for the first time since last September 24, edging up 0.2%.  The dollar otherwise lost 1.0% against the Swiss franc, 0.8% versus the kiwi, 0.5% relative to the Australian dollar and euro, and 0.3% against the Canadian dollar.  The greenback is unchanged against sterling and the yuan. Stocks in […] More